UFP Technologies Makes A Healthy Move With AJR Buyout
UFP Technologies, Inc. (NASDAQ:UFPT) shares are trading higher after the company disclosed the buyout of AJR Enterprises, LLC for $110 million.
AJR Enterprises specializes in developing and manufacturing single-use safe patient handling systems and generated sales of approximately $70 million in 2023 and $75 million in the trailing 12-month period that ended in March.
“We are very excited to add AJR Enterprises’ capabilities to our patient surfaces portfolio,” said R. Jeffrey Bailly, chairman and CEO of UFP Technologies.
UFP funded the transaction through borrowings under its amended and restated credit agreement.
“Patient surfaces and transfer devices are a growing market due i
